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Terra Technology says Version 3.5 of its Real-Time Forecasting solution delivers improved scalability, increased accuracy and enhanced ease-of-use.
"Many of our largest clients manufacture and ship products all over the world," says Robert F. Byrne, president and CEO of Terra Technology. "Real-Time Forecasting is dynamic, analyzing shifts in daily demand for thousands of products in hundreds of countries with different holidays, promotional plans and SKUs, resulting in greater forecast accuracy and cost savings for our customers."
Key Enhancements of RTF Version 3.5:
• Flexible modeling to accurately forecast for holidays in the United States and abroad, e.g., forecasting the impact of a Thursday holiday such as Corpus Cristi Day in Germany.
• The capability to analyze history for patterns that reflect promotions and derive promotional volume when no actual promotional data is available.
• Allocation of a forecast for a generic item when more than one SKU is selling for that item at that time.
• Easy integration with SAP, enabling implementation in 90 days for SAP users.
Real-Time Forecasting improves traditional demand planning systems by combining real-time data and advanced mathematics to cut forecast error. Forecast error is the single most expensive problem for consumer products companies and the largest obstacle to becoming demand-driven.
Terra, based in Norwalk, Conn., says its pattern recognition technology works with traditional demand planning systems to monitor daily demand signals and reduce near-term forecast error by up to 50 percent.
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